Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:
Does contractual arrangement taint spousal trust?
Position:
Yes.
Reasons:
Persons other than spouse entitled to share in income and capital of trust prior to spouse's death.
XXXXXXXXXX 971183
Attention: XXXXXXXXXX
June 3, 1997
Dear Sirs:
Re: File 963747
In response to your facsimiles of March 26 and May 30, 1997, it is our opinion that the contractual arrangement interferes with the application of subsection 70(6) of the Income Tax Act as a situation is created where persons other than the spouse would be entitled to share in the income and capital of the trust prior to the spouse's death.
Yours truly,
T. Murphy
A/Section Chief
Trusts Section
Resources, Partnerships and
Trusts Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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